EastGroup Properties Announces 166th Consecutive Quarterly Cash Dividend

Rhea-AI Summary

EastGroup Properties (NYSE: EGP) has declared a quarterly cash dividend of $0.79 per share, set to be paid on July 15, 2021, to shareholders of record on June 30, 2021. This marks the 166th consecutive quarterly dividend, maintaining an annualized dividend rate of $3.16 per share. The company has upheld or raised its dividend for 28 years, with increases in the last nine years.

Positive

• Quarterly cash dividend of $0.79 per share demonstrates commitment to shareholders.
• Maintained 166 consecutive quarterly dividends, indicating strong financial stability.
• Annualized dividend rate of $3.16 per share reflects growth potential.
• Increased dividends for 28 consecutive years shows long-term shareholder confidence.

Negative

• None.

JACKSON, Miss., May 27, 2021 /PRNewswire/ -- EastGroup Properties (NYSE: EGP) announced today that its Board of Directors declared a quarterly cash dividend of $0.79 per share payable on July 15, 2021 to shareholders of record of Common Stock on June 30, 2021.  This dividend is the 166^th consecutive quarterly distribution to EastGroup's shareholders and represents an annualized dividend rate of $3.16 per share.  EastGroup has increased or maintained its dividend for 28 consecutive years.  The Company has increased it 25 years over that period, including increases in each of the last nine years.

EastGroup Properties, Inc. (NYSE: EGP), an S&P MidCap 400 company, is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. The Company's goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location sensitive customers (primarily in the 15,000 to 70,000 square foot range). The Company's strategy for growth is based on ownership of premier distribution facilities generally clustered near major transportation features in supply-constrained submarkets. EastGroup's portfolio, including development projects and value-add acquisitions in lease-up and under construction, currently includes approximately 48 million square feet.

EastGroup Properties, Inc. press releases are available at www.eastgroup.net.  

View original content to download multimedia:http://www.prnewswire.com/news-releases/eastgroup-properties-announces-166th-consecutive-quarterly-cash-dividend-301301244.html

SOURCE EastGroup Properties

FAQ

What is the dividend amount declared by EastGroup Properties (EGP) in May 2021?

EastGroup Properties declared a quarterly cash dividend of $0.79 per share.

When will the dividend for EGP be paid?

The dividend will be paid on July 15, 2021.

How often does EastGroup Properties pay dividends?

EastGroup Properties pays dividends quarterly, and this marks the 166th consecutive distribution.

How long has EastGroup Properties been increasing its dividend?

EastGroup Properties has increased its dividend for 28 consecutive years.

What is the annualized dividend rate for EastGroup Properties (EGP)?

The annualized dividend rate for EastGroup Properties is $3.16 per share.